Esken Limited, the aviation and energy infrastructure group formerly known as Stobart Group, announced that Warwick Brady has tendered his resignation as chief executive and has accepted an offer to become CEO of Swissport.
“It has been agreed with the board that Warwick will remain as chief executive of Esken until the end of June at the latest,” said Esken.
“This will provide sufficient time to ensure continuity and a smooth transition in leadership.
“He will not be entitled to any payments other than his contractual entitlements for the period up to his leaving date.
“David Shearer will assume the role of executive chairman on an interim basis with immediate effect.
“His initial priority will be to review Esken’s strategic options as the company navigates the continuing impact of the COVID-19 pandemic.
“As part of that exercise he will determine the leadership requirements for a new CEO to implement that strategy.”
Esken said it now owns two attractive core businesses — biomass unit Stobart Energy, and London Southend Airport.
Shearer said: “I would like to thank Warwick for all of his efforts during his time as chief executive.
“He has led the transformation of Esken into an operationally focused business and was instrumental in establishing London Southend Airport as a key London Airport asset.
“In the last 12 months, he has dealt with the challenges which the business has experienced due to the COVID-19 pandemic.
“The board wishes him well in his new role.
“All of Esken’s businesses benefit from strong experienced operational management teams with the capabilities required to take the business forward.
“I look forward to working with Lewis Girdwood, Nick Dilworth and all of our people and stakeholders as we navigate the recovery into the post COVID period.”